CIM Real Estate Finance Trust (CCPT IV) – Illiquid Investment

Posted on March 2, 2020 by The White Law Group

Secondary Sales Prices of CIM Real Estate Finance Trust Suggests Losses for Investors

If your financial advisor unsuitably recommended investing in CIM Real Estate Finance Trust (CCPT IV), and you incurred losses, you may be able to recover your losses by filing a FINRA Arbitration claim.

Non-Traded REITs such as a CIM Real Estate Finance Trust are generally speculative, high risk investments and due to these risks are often unsuitable for most investors.

Net Asset Value Continues to Decline

According to new filings with the SEC, the REIT’s board has reportedly approved an $8.65 per share net asset value of the company’s common stock as of December 31, 2018. The board previously approved a per share NAV of $9.37 as of December 31, 2017, $10.08 as of December 31, 2016, $9.92 as of September 30, 2016, and $9.70 as of August 31, 2015.

The Company’s board of directors approved the change of the corporate name from Cole Credit Property Trust IV to CIM Real Estate Finance Trust, Inc., on August 14, 2019.

Liquidity Problems – Decrease in Secondary Sales Price

Investors looking to sell non-traded REITs, like CIM, often have difficulty finding a buyer, and can suffer significant losses on the sale. According to filings with the SEC, the REIT’s Share Repurchase Program is oversubscribed.

On March 2, 2020, Comrit Investments LP, a Tel Aviv-based investment fund, has launched an unsolicited tender offer to purchase up to 16 million shares of CIM Real Estate Finance Trust for $5.27 per share. This may mean losses for investors.

The White Law Group is continuing its investigation in regards to the liability that some broker dealers may have for improperly recommending CIM Real Estate Finance Trust to investors.

Your financial advisor has a responsibility to perform due diligence on any investment before recommending it to you. If your advisor unsuitably recommended a non-traded REIT and you lost money, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claims against the brokerage firm that sold you the investment.

If you have suffered losses investing in CIM or another Cole REIT, the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call the offices at 888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.

Sonya Carmaco – LPL Financial – Securities Investigation

Posted on August 30, 2018 by The White Law Group

Investigating Potential Securities Claims – Sonya Camarco

The White Law Group is investigating potential claims involving financial advisor Sonya Camarco and the liability that LPL Financial may have for failing to properly supervise her.

According to her FINRA broker report, Camarco was dismissed from LPL Financial in August 2017 for allegedly “depositing third party checks from client accounts into a bank account she controlled and accessing client funds for personal use.”

In August, the SEC charged Camarco with using her company Camarco Investments, Inc., to allegedly steal over $2.8 million in investor funds from her clients and customers.

According to various reports, Camarco allegedly used investor accounts to pay hundreds of thousands of dollars in credit card bills and took cash advances on investor accounts.

Camarco was registered with LPL Financial LLC in Colorado Springs, CO from February 2004 until August 2017, according to her FINRA BrokerCheck report. She has 9 customer complaints filed against her, 4 of which are pending, according to her broker report.

If you suffered losses investing with Sonya Camarco and LPL Financial, the securities attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call the offices at 888-637-5510.

For more information on The White Law Group, and its representation of investors, please visit our website at http://www.whitesecuritieslaw.com.

Anthony Diaz – Pennsylvania Broker – Securities Fraud Investigation

Posted on June 25, 2018 by The White Law Group

Anthony Diaz – Securities Fraud Investigation

The White Law Group continues to investigate potential claims involving financial advisor Anthony Diaz and the liability his employers may have for failing to properly supervise him. The firm has recently filed two claims on behalf of investors who have lost money investing with Pennsylvania broker Anthony Diaz.

According to reports, Diaz was registered at 11 broker-dealer firms in 14 years. He has also reportedly been the subject of at least three regulatory events, four employment separations and forty-three customer complaints.

FINRA arbitrators reportedly have ruled that Anthony Diaz must pay damages to 19 former clients, noting he failed to respond to arbitration. Those reported further state that the award includes compensatory damages of about $1 million, punitive damages of $2.9 million and attorneys’ fees of more than $400,000.

Diaz, 48, was also reportedly ordered to pay more than $4 million in damages ahead of his federal trial on criminal fraud charges.

Once regarded as one of the nation’s top brokers, FINRA claims that Diaz allegedly earned millions of dollars by pushing high-fee, high-risk alternative investments, such as real estate investment trusts (REITs) and equipment leasing partnerships. These types of investments typically offer high broker commissions.

According to the United States Attorney’s Office for the Middle District of Pennsylvania, Diaz was charged in a superseding indictment with additional charges of mail and wire fraud.

Diaz was originally indicted on May 12, 2016, and charged with six counts of wire fraud by using false and misleading statements and misrepresentations to induce his clients to purchase high risk and/or otherwise unsuitable investment products.

According to his FINRA BrokerCheck report, Anthony Diaz has 55 (fifty-five) disclosure events, including 43 customer complaints. He was last registered with IBN Financial Services in Scotrun, PA from 09/27/2012 – 04/23/2015.

Diaz was reportedly barred from the securities industry by the Pennsylvania Bureau of Securities in June 2015, as well as FINRA, and his registration in the State of New Jersey was purportedly revoked in April 2017.

Free Consultation with a Securities Attorney

If you have questions or concerns about investments you made with Anthony Diaz, the securities attorneys of The White Law Group may be able to help you. To speak with a securities attorney, please call 888-637-5510.

For more information on The White Law Group, and its representation of investors, please visit our website at http://www.whitesecuritieslaw.com.

LJM Preservation & Growth Fund – LJM Partners – Investigation

Posted on April 18, 2018 by The White Law Group

Investigating Potential Claims – LJM Preservation and Growth Fund

The White Law Group continues to investigate potential claims involving broker dealers who may have unsuitably recommended LJM Preservation and Growth Fund to investors.

The LJM Preservation and Growth Fund is a liquid alternative mutual fund. Liquid alternatives are alternative investment strategies that are available through alternative investment vehicles such as mutual funds, ETFs, and closed-end funds that provide daily liquidity.

According to reports, LJM Capital Preservation & Growth Fund lost $600 million dollars in two days.

In New York federal court last month, Wells Fargo Securities LLC filed suit against LJM Investment Fund LP, seeking to recover more than $16 million the bank says it spent to cover the commodity pool’s losses in February’s stock market dive.

Numerous investor lawsuits have reportedly been filed alleging the following: LJM Preservation and Growth Fund Classes I, A and C failed to adequately focus on the preservation of capital, particularly in down markets as stated in the Registration Statements and Prospectuses; investors were exposed to unacceptably high risks of significant losses; as a result, the Funds’ financial statements were materially false and misleading at all relevant times.

Brokers are required to perform adequate due diligence on any investment they recommend.
They must ensure that all recommendations are suitable for the investor and are in line with the client’s risk tolerance, age, net worth, and investment experience.

If a brokerage firm makes unsuitable investment recommendations or fails to adequately disclose the risks associated with an investment they may be liable for investment losses through FINRA arbitration.

You may be able to recover investment losses through FINRA Arbitration. FINRA operates the largest securities dispute resolution forum in the United States, and has extensive experience in providing a fair, efficient and effective venue to handle a securities-related dispute.

Free Consultation

If you are concerned about investment losses with LJM Partners or LJM Preservation and Growth Fund, the securities attorneys at The White Law Group may be able to help you recover your losses. For a free consultation with a securities attorney, call The White Law Group at 1-888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. For more information on the firm, visit www.WhiteSecuritiesLaw.com.

Thomas T. Riquier Accused of Real Estate Fraud Scheme

Posted on February 15, 2018 by The White Law Group

United Planners Financial Services of America Charged with Failure to Supervise

Have you suffered losses investing with Thomas T. Riquier and United Planners Financial Services of America? If so, the securities attorneys at The White Law Group may be able to help you recover your losses through FINRA Arbitration.

According to reports, Financial Advisor Thomas T. Riquier has been accused of defrauding investors in a complex real estate fraud scheme. Riquier allegedly took more than $1 million from investors over a 26 year span, according to various reports.

President of The Retirement Financial Center, Riquier was charged on February 14 with violating the Massachusetts Uniform Securities Act by Secretary of the Commonwealth William F. Galvin. United Planners Financial Services of America, his registered employer, is reportedly charged with failure to supervise its agent.

Riquier allegedly solicited money from clients and others, a majority of whom are elderly, and used it to purchase property, which investors were told would then be sold for a profit, according to the complaint filed by the Massachusetts Securities Division.

According to the complaint, in reality, the investments were allegedly used to purchase property already owned by Riquier. The complaint further states that the property has not been sold, has not been improved, and has not provided any returns on the money invested.

Riquier purportedly solicited more than $800,000 in private loans from his clients, in violation of state and federal law, according to the Massachusetts Securities Division.

According to his FINRA BrokerCheck report, Riquier has been registered with United Planners since 1992. He has five customer disputes listed on his broker report since 2008. Allegations include churning and failure to place trades in a timely manner, among others.

The state is seeking an order requiring Riquier to pay restitution to compensate investors for their losses under the scheme. It also reportedly seeks a cease and desist order, censure, and administrative fine, and the revocation of Riquier’s registrations as an investment advisor agent and broker-dealer in Massachusetts.

Recovery of Investment Losses – Thomas T. Riquier

The White Law Group is investigating Potential claims involving Thomas T. Riquier and United Planners Financial Services of America.

When brokers break laws or violate FINRA Rules, the firm they work for can be held liable for failure to supervise and responsible for investment losses. Brokerage firms have a responsibility to monitor their brokers and ensure that investments recommendations are in the clients’ best interest.

If you are concerned about your investments with Thomas T. Riquier the securities attorneys at The White Law Group may be able to help you recover your losses. For a free evaluation with a securities attorney, please call the firm’s offices at 888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm. For more information about The White Law Group, visit www.WhiteSecuritesLaw.com.